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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Bobby Yellin who wrote (6712)	1/25/1998 11:25:00 AM
From: GOLDFINGER	Read Replies (2) of 116759

This wek-ends edition of the Belgian version of "the financial times", there was an article about deflation. The author of the article was Roland Leuschel, director of the Banque Bruxelles Lambert, now part of the ING bank. He is now recommending his clients to reduce the holdings in equities to only 25 % of your total investment. 40 % in AAA bonds, 25 % cash and 5 % in gold assets. The reason for holding gold : The CB's had a strategy to bring down there gold reserves. This could be the only explanation why the gold price is at a 18 year low. But the demand worldwide rose 18 % last year and the production rose only 2.3 %. This means a gap of 1000 tons of gold !!! But in the future, this can change, because there will be a lot of uncertainty coming. And the price of gold could be on the rise, while CB's who will see this can decide to hold their gold reserves and to sell it at a later stage (at a much higher price)... GF.

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